All Forum Posts by: Allen Lopez

Does any one know any financial institutions that are willing to do a heloc on an investment property? I feel like there aren’t any out there.

So I just bought a new house that I will be using as a rental. The house has minor details that are needed. Mostly painting inside and out, cabinets need to be repainted, fans...all minor work, but time consuming.

I can get a company to do everything in 5 days for $6k, or I can do it all my self in about a month. This means that I would potentially lose $3k in rent (2 months 1 for rehab, 1 for listing). Would you do the work yourself or would you get the property rented as soon as possible?

Keep in mind, that the rent could be longer if I don’t find a tenant within 1 month

So I have a cart port. Pretty much an open Corner. Two of the walls are part of the house and the ceiling is already there. All I am missing is one sidewalk, and a garage door. If I wanted to add this then the house, will I need a permit?

@John Warren

Thanks I really appreciate it

Any kits or paint you guys recommend?

So I know this provides zero money back on investment, but it makes the unit look nice. Would/should I paint the cabinets? I feel like the nicer I make the unit look the more I can rent it for.

Has anyone ever used a tub refinishing kit for a tub before that they would recommend?

So I have been using my old primary home which I bought with a loan under my name as a rental property. I would like to put it in an LLC as an investment property. This means that the house would technically be under the LLC. Is it possible to do this while having the original loan that I used to purchase it. Will there be any issues since the lender will have to change the property owner (loan owners name) I guess. Anyone here have done this before?

So I found a great off market property I want to buy with a loan, but it’s for sale by owner.

What are the steps I need to take for this.

I have already been prequalified.

I am guessing the next step would be find a tittle company, do an inspection, do an appraisal, tittle insurance.

I have always worked with a realtor but the seller wants to save money so she said either I pay for the realtor or do by owner. Property price is 110k, so should I just bite the bullet and pay that 3%?

@Mark Fries

First I want to say thank you so so much for your help. Even that isn’t enough to express it.

So I contacted there Insurance and in two days, I had someone calling me to get everything sorted out. They pretty much begged me not to file a claim with their insurance. They offer to pay whatever contractor I want to redo the ceiling and they offer me an additional $150 for my troubles. Yeah I know I’m cheap....lol

But it’s a win for the small guy